Honestly,i am sick and tired of wholesaling. I don't think it is a creative strategy at all. So called investors go sell their souls hard-to the hard money lender-who slaps them with usurious type rate and ridiculous "points." So those investors are already neck deep in debt by the time they walk out of the infernal office. How do they emerge from this abyss?? By turning their guise on a bunch of unlucky people who are stranded in a thousand and one problems. Given that those unfortunate cannot "fight back" due to their circumstances,they have to accept the investor's demands of cutting their own throats to bleed profits. The Great Investor,after acquiring the property below market price,fixes it up,turns around and sells it at market price.
I want a dispassionate debate about this.
I must say, I absolutely love how you ended the extremely passionate and opinionated views you espoused with a call for a dispassionate debate. :)
If you don't like wholesaling, the last I heard this is a free country. You are not an indentured servant. Find some other business activity that you actually enjoy.
If you have a different business solution than HMLs that is workable for specific investors, then by all means dispassionately advise them. In fact why not make a name for yourself here on BP due to your sagacious, dispassionate advice?
As it happens, why not quietly read post after post right here in BP of successful flips that used HMLs very successfully? You might pick up some tips from your quiet reading that allows you to become one of those successful people one day. Why not quietly read about numerous investors who wholesaled for a while to build up a stake and then jumped into the fix and flipping or BRRRR game?
PS. I'm pretty sure links are not meant to link to the very same post you are posting. Just sayin'.
Wishing you the very best in your career.
Honestly,i value your contribution to my modest post.
I just feel you have carefully avoided the gist of my intervention. Let me repeat myself again:
is a business blueprint based on the wholesaling model sustainable? You have not touched upon that.
I never said America has suddenly turned into North Korea where the "state" runs everything and the people are enslaved nor do i claim to be an indentured servant. You are displacing the equation without solving it.
Yes,methinks lease option,creative exit strategies,equity exchange or 1031 are way better models than pure wholesaling.